"We've been told this will be the largest redevelopment type project in U. S. history," developer John L. Knott tells GlobeSt.com. "We'll eventually have 7,000 to10,000 housing units, 4,000 to 7,000 rehabbed units and up to 10 million square feet of retail, commercial and industrial space."

Opportunities for other developers to come into the project will be abundant, says Knott, president of the Noisette Co., named after a famous local botanist, Philip Noisette. Knott says he is talking to various national developers who want to participate in the project, though he declines to identify them.

The project, which will also include improvements to 13 public schools and the creation of several museums, could take up 15 years or even longer to complete. The price tag has been estimated at $1 billion and up.

The project gained momentum with the city agreeing to buy the base after the completion of two appraisals, probably in May. Knott's Noisette Co. will then buy it under special terms to be determined later.

The first development will be a revitalization of the base into a waterfront park with housing and commercial space that could be completed within three years. The venture will be funded by private investment and bonds issued through special tax districts in North Charleston.

Knott is working on a comprehensive master plan that is expected to take up to four years to complete. Exact locations of the various types of development are still being determined, Knott says.

Knott is best known for his role at widely acclaimed Dewees Island, an environmentally conscious oceanfront retreat north of the Isle of Palms. Since 1991, he has been CEO of that exclusive barrier island project, accessible only by boat.

Knott, who is nationally known and has been active in many local development groups such as the Urban Land Institute, began the Noisette effort four years ago.

Instant Insights /

N. Charleston Getting $1 Billion, 300-acre Mixed-Use Waterfront Project

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